The Innovation Act Will Harm Income, Employment, and Economic Growth
By Denial Spulber in IP Watchdog
Legislation such as H.R. 9 – “INNOVATION ACT”, first introduced as H.R. 3309 in the prior session of Congress, would involve fundamental changes to the U.S. legal system. In the name of reducing litigation costs and frivolous suits, these so-called reforms potentially affect practically any patents currently in force and the future of the U.S. patent system itself. If enacted, by weakening patents’ enforceability, the proposed legislation will harm income, employment, and economic growth.
Of course, there may be some frivolous suits related to patents. Such problems have already been addressed in a variety of ways by the USPTO, the America Invents Act, Supreme Court decisions, and changes to Federal Rules of Civil Procedure, see the discussion by Paul Gugliuzza. The full effects of these substantive changes have yet to be observed. There may not be a need for additional legislation.